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Over the past fifteen years, fashion’s luxury megabrands have had a terrific run, buoyed in part by upgrades to their product mix and high price inflation, amid historic levels of new wealth creation in China and a strong economy and soaring stock market in the US.
Exhibit A: sector leader LVMH repositioned its flagship Louis Vuitton brand starting with the launch of the upmarket Capucine bag back in 2013, and the results have been spectacular, as the strategy shift dovetailed with very…
